Skip to content
Subscriber Only

Petrobras ‘Carwash’ Probe Said to Bring $2.5 Billion Bribe Fine

  • Penalty payments to U.S. and Brazil would set a global record
  • Odebrecht, Braskem to sign settlements over Petrobras payments
Marcelo Odebrecht Photographer: Heuler Andrey/AFP/Getty Images

Marcelo Odebrecht Photographer: Heuler Andrey/AFP/Getty Images

Updated on

U.S. and Brazilian authorities are set to impose $2.5 billion in foreign-corruption penalties on Odebrecht SA, Latin America’s biggest construction company, and an affiliate for violating anti-bribery laws, people familiar with the discussions said.

Prosecutors say Odebrecht and the affiliate, Braskem SA, paid officials at Petroleo Brasileiro SA, the state-run oil producer known as Petrobras, to win contracts. Odebrecht and Braskem will plead guilty to charges involving the U.S. Foreign Corrupt Practices Act, three people said. A Swiss investigation of Odebrecht is also part of the settlement.